The current ‘hope’ rally in the domestic equity market is driven by the foreign capital inflows on availability of excess global liquidity and may not sustain as profit booking at these levels is imminent, analysts said.

IndiGo's share price rallied up to 14 percent in the morning session of Wednesday's trade after it reported better-than-expected earnings despite nationwide lockdown and rise in costs. India's largest passenger air carried reported a net loss of Rs 870.8 crore in the March quarter 2020 due to weak operating performance. Last year, the company had posted a net profit of Rs 596 crore in the same period. The airline is taking various cash-conversion and cost-cutting measures to survive, said CEO Ronojoy Dutta.

Adani Power board on Wednesday appointed merchant banker Vivro Financial Services Pvt Ltd to evaluate the proposal to delist its equity shares from BSE and National Stock Exchange.

CNBC-TV18’s Surabhi Upadhyay and Prashant Nair caught up with Vicky Melbourne, head of industrials, property & consumer south and south-east Asia at Fitch Ratings to discuss the rationale.